Mercer Global Advisors Inc. ADV Raises Position in McCormick & Company, Incorporated (NYSE:MKC)

Mercer Global Advisors Inc. ADV grew its holdings in shares of McCormick & Company, Incorporated (NYSE:MKC) by 6.8% during the second quarter, HoldingsChannel reports. The firm owned 21,338 shares of the company’s stock after purchasing an additional 1,350 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in McCormick & Company, Incorporated were worth $1,514,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its holdings in shares of McCormick & Company, Incorporated by 87.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 375 shares of the company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $29,000. 1620 Investment Advisors Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $35,000. Farmers & Merchants Investments Inc. increased its holdings in shares of McCormick & Company, Incorporated by 40.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 794 shares of the company’s stock worth $56,000 after buying an additional 228 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of McCormick & Company, Incorporated during the 2nd quarter worth $67,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

McCormick & Company, Incorporated Stock Up 0.7 %

Shares of McCormick & Company, Incorporated stock opened at $83.76 on Wednesday. The business has a 50-day moving average of $79.12 and a 200-day moving average of $74.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.69 and a quick ratio of 0.31. The company has a market capitalization of $22.50 billion, a PE ratio of 30.57, a P/E/G ratio of 4.26 and a beta of 0.76. McCormick & Company, Incorporated has a 1-year low of $59.13 and a 1-year high of $85.49.

McCormick & Company, Incorporated (NYSE:MKC) last announced its earnings results on Thursday, June 27th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. As a group, equities analysts forecast that McCormick & Company, Incorporated will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the director now owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.90% of the company’s stock.

Analysts Set New Price Targets

MKC has been the subject of a number of research analyst reports. TD Cowen dropped their price objective on McCormick & Company, Incorporated from $75.00 to $73.00 and set a “hold” rating for the company in a report on Monday, June 24th. Bank of America upped their price objective on McCormick & Company, Incorporated from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Citigroup upgraded McCormick & Company, Incorporated from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $68.00 to $69.00 in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.14.

About McCormick & Company, Incorporated

McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.